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ECB president Mario Draghi 'cautious' over recovery

9 January 2014 Last updated at 16:58 GMT

The European Central Bank (ECB) has kept its benchmark interest rate at a record low of 0.25%.

ECB president Mario Draghi said rates would "remain at present or lower levels for an extended period of time".

Mr Draghi also warned against suggesting that the eurozone crisis was over.

He said: "The recovery is there, but it is weak, modest and fragile."

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